Ispat Industries expands production capacity

Ispat Industries expands production capacity

According to recent news in the market, Indian steel producer Ispat Industries Limited plans to increase production capacity at its Dolvi complex to 3.2 million tons within a year from 2.54 in the current fiscal despite fluctuation in the prices of raw materials, especially iron ore and coke. The cost of this project is Rupees 10 billion ($220.7 million). A company official stated that, volatile prices negatively affected the profit of the company however with the acquisition of a coke plant in Bosnia and coke supply agreements with certain Chinese companies will affect the profit of the company positively in the current fiscal. Coke plant in Bosnia is expected to meet 50% of coke requirement of Dolvi complex.